CalSTRS Selects State Street’s Private Equity Index for Policy Benchmark
August 07 2014 - 9:30AM
Business Wire
State Street Global Exchange today announced that California
State Teachers Retirement System (CalSTRS) has chosen the GX
Private Equity Index as its Private Equity Investment Policy
Benchmark. CalSTRS is the nation’s second largest public pension
fund with assets totaling approximately $189.1 billion as
of June 30, 2014. CalSTRS has $21.8 billion in private equity
assets, or about 11.5 percent of their total portfolio1. CalSTRS
has been using the GX Private Equity Index as an additional
performance benchmark for market research and performance
evaluation since 2007.
“After seeking a better private equity benchmark for years, we
have decided that State Street’s Private Equity benchmark has
achieved enough mass and history to replace our own internal
index,” said CalSTRS Chief Investment Officer Christopher
Ailman.
The GX Private Equity Index is an industry recognized benchmark
for comparative analysis of private equity performance and includes
a comprehensive data set dating back nearly three decades. The
index is based on directly-sourced limited partnership data, which
represents over $2 trillion of private equity investments and
includes more than 2,300 funds, as of March 31, 2014. The index
contains a full suite of metrics designed to provide investors with
well-defined performance parameters.
“We’re collaborating with our clients to build and enhance
solutions that can address some of the biggest challenges in
utilizing data for actionable insights,” said Jeff Conway,
executive vice president and head of State Street Global Exchange.
“By partnering with us, our clients can help gain a clearer line of
sight into their investment horizons and turn information into
strategies and the Private Equity Index is a prime example of
that.”
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $28.4 trillion in assets
under custody and administration and $2.48 trillion* in assets
under management as of June 30, 2014, State Street operates in more
than 100 geographic markets worldwide, including the US, Canada,
Europe, the Middle East and Asia. For more information, visit State
Street’s web site at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold
ETF (approximately $33 billion as of June 30, 2014), for which
State Street Global Markets, LLC, an affiliate of SSgA, serves as
the distribution agent.
1 As of 7/14/2014
CORP-1070
State Street CorporationElizabeth Bartlett, +1 617 662
2903www.statestreet.com@StateStreet
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